Short term plot using small tf screens as a microscope.
"Impulse" is a surge that creates "Ripples", like a pebble into water.
"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden Pocket.
Are the sellers still there? Enough to absorb the buying power?
Reaction at Impulse is worth...
Pound is unable to break through the Trading Range’s Low, which signals a danger at the moment. The downtrend of the last 3 months and this consolidation below resistance, indicates that it will most likely test new Swing Lows, thus catch some liquidity.
Please let me know if you have any suggestions...
GBPUSD fell into complex corrective pattern. This week Pound find support @ 1.2655 level and could not brake the previous week high. I am looking wave C of B downside upto the support level of 1.2605.
Brexit drama continues but GBP has been less volatile in recent days. Traders are not buying hawkish Bank of England due to uncertainty prevailing around Brexit saga. When many banks are turning dovish and FED is not raising rates further, Bank Of England remain cautious hawk. Mr Carney has hinted strong series of rate hikes in the event of smooth Brexit. That...
Ignoring Brexit and the fundamental rollercoaster madness completely I took it upon my self today to chart out one of my favourite assets to roll long term on - Cable AKA GBPUSD.
From a technical standpoint what I am looking for is a proper solid retest of historical lows - I am not of the mind that GBP is going to die, or the UK disappear..... However I do...
Much of the trading is focused on ranges as opposed to breakout with follow through potential. Moreover, while technicals are quite insightful to herd psychology, the fundamentals will be driving markets going forward in the next 24 to 48 hours ahead of us. This includes assets mostly affected by ongoing themes, such as the pound (GBPUSD) which has primarily been...
An April 12th deadline is now looming above the heads of Europeans and the British as the UK find themselves situated as the estranged husband who refuses to sign the divorce papers. Right now there are six main scenarios:
1)Revoking Article 50 and cancelling Brexit
3)May’s deal plus a customs union
4)May’s deal plus both a customs union and...
Same as GBPJPY, sterling is very bearish right now. The set up was based on a simple break and retest of the support/liquidity zone (the blue stripe). We can see a huge green shooting star rejected the zone. The spike is more or less due to the FOMC announcement, which also wiped out my other two trades. Then, on the 1H, we see an evening star formation, where I...
With so much uncertainty surrounding Brexit, do key technical levels still have relevance on the Cable? The short answer is yes as major news is usually priced in before any major reports are actually released (ever hear of "buy the rumor, sell the news?"). However, it is still critical to pay attention and stay up to date on any major releases; the market can...
Interesting move today for the cable which is already up 1.14% at the end of the week.
Market is now expecting a soft brexit rather than no deal brexit.
Technically the pair is gaining bullish momentum since it broke above the 200day SMA at 1.318 and will likely close above it weekly.
Also, it broke a descending trend line shown on the chart which shows a...
Cable has reversed strongly off long-term support at 1.27 to reverse the short term downtrend
Preference = go long with the trend reversal
Scenario A) price pulls back to 1.283 before continuing to 1.30
Scenario B) bullish momentum provides no short term dip-buying opportunities so wait
Here on the GBPUSD currency pair as previously noted I have analyzed and review a harmonic pattern signaling bears to enter the market. I believe the bears are still in control and throughout the week we will begin to see an aggressive decline. I would love your feedback and happy trading.